It’s our birthday! We review all our Order Pad stocks 🎂 Pt I

Candice: [00:00:10] Welcome to talk money to me. This is your need to know financial podcasts. Thanks so much for joining us. I'm Candice Bourke. 

Felicity: [00:00:17] And I'm Felicity Thomas. And in this episode, we're actually celebrating our one year birthday with you. 

Candice: [00:00:24] Happy birthday to us all. Three papers going up in the background that nobody can say. But that's right. If you've been following us and tuning in to our weekly episodes, which drop every Friday. Thank you so much for the support. We've had such a fun time creating this podcast and we hope you've been enjoying our conversations as we talk about all things finance, wealth creation, strategies and ideas and of course our favourite topic being investable ideas.

Felicity: [00:00:51] That's right. So we actually thought what a fantastic way to celebrate our one year birthday anniversary on the show by actually bringing you a special order pat episode to review the last 20 different stocks that Candice and I have pitched over the last year.

Candice: [00:01:06] That's right. So if you happen to be tuning in for the first time, firstly, welcome. And this is sort of an episode where Felicity and I pitch or give an idea or investable stock or company that were looking at the moment. We're going to go over the reasons why we like the business, you know, positive outlook we seeing for the company in the sector overall. So we kind of give a rundown in this special episode of what we've spoken about previously in other Wattpad episodes. 

Felicity: [00:01:31] Exactly. So we're going to give you a rundown of the company's progress. I mean, we are in reporting season at the moment, why we like the stock and whether we still want to hold or, you know, potentially top up or sell and a bit of the guidance that we've been seeing moving forward. 

Candice: [00:01:47] Now, before we get into our special birthday episode, please remember although Felicity and I financial advisors at and partners and in particular disclaimer is really important for these episodes being an order pad because we do talk a lot about the financial markets, companies, investments and outlook. So as always, our discussion today does not constitute as personal financial advice, nor is it a financial product. And you should always go out and seek your own professional financial advice before you make your investment or financial decisions. 

Felicity: [00:02:16] That's it. But it might not be for long, right? If the new changes to the financial advice sector actually come through at the end of the year. There's an interesting paper on that. So we shall. 

Candice: [00:02:27] See we shall say these proposals, though, and they you never, never count on them until they actually go through. Right. So we will see what happens there. But to kick start off today's episode, let's firstly Felicity set the scene on the markets more generally. What's been going on? Some quick stats for you. So year to date, NASDAQ index is down 24%. Ouch. Year to date, S&P 500 also down 15%. And then looking at the local market here in Australia, our ASX 300 index is down about eight and a half per cent. 

Felicity: [00:03:03] Yeah, it really has been a tough 12 months in the markets. And what's interesting in terms of the stocks we've actually added to our one year old iPad is that 35% of the holdings actually fall within the global market, 65% are Aussie listed companies. We actually peaked the most in the resource and materials sector about 30% then followed by tech. We love tech 25% and financials and payments, which is about 20%. And we do have retail, which is about 15% of the portfolio as well as agriculture and media being 10%. So interesting in the breakdown of order pad stocks, it doesn't actually surprise me that we are overweight resources given our Australian market is dominated by the mining materials and resource sector. 

Candice: [00:03:48] Very much so. And then the figure overall, I guess this is the drum roll moment for the 20 stocks that we have picked to the Ord have had so far. We're tracking an average positive 2% overall. So great to see we're up ever so slightly.

Felicity: [00:04:03] Beating the market. 

Candice: [00:04:04] Benchmark. 

Felicity: [00:04:05] Beating the market.

Candice: [00:04:06] Just the market has been a brutal bloodbath for different sectors. Obviously for what we've spoken about lots on the show, you know, biggest contributors is actually up nearly 350% so far and the larger stock within our own iPad is down almost 67%, interestingly, both in the same industry. Hint, hint, the one we're overweight but we're not going to go away exactly why those companies are performing the way they are. You have to just stay tuned. [00:04:33][27.3]

Felicity: [00:04:34] That's it. So stay tuned now in this episode because it's going to be quite long. We're actually going to break it down into ten stocks now and ten stocks next week. So you're going to have to tune back next week. Let's get into it. Candace So Dash was actually the first stock that you pitched on the order pad. So how is that going and what's the update? Yes. [00:04:52][18.6]

Candice: [00:04:53] So being a bear market currently, the reality is that my first peak that we did on our first order at dusk is actually. Tracking at the moment 32%. And so what we can talk about now, right, is what we've seen in the reporting season so far, it's actually been not all bad news. So there have been some positive results in particularly from JB Hi-Fi. I'm just going to point out that one and the themes and I think also dusk is going to fall in this category is that the themes that certain retailers are actually holding up their net cash position, they've optimised the inventory levels and are most mostly broadly preparing for their biggest season, which is the Christmas sales from, you know, Black Friday sales onwards in November. And they've successfully navigated the currency impacts and supply chain issues that we've been talking a lot about. So there's certain pockets in retail that are holding up their margins without necessarily, you know, having to discount aggressively. Right. And dusk doesn't really do that. I remember saying that in the reasons why I did pitch Dusk in the Autumn had all that 12 months ago, basically. And pleasingly they're expanding their physical networks and footprint to additional locations are rolling out new stores. I think looking forward for dusk in FY 23 and beyond, I still like the business, but I want to see the margins continue to hold up. I want to see the new stores rolling out COVID imposed restrictions, the supply chain issues to to lessen. So here at Shaun Partners, we still like the business and we still cover the stock with a buy rating at three point price target consensus, pretty much around that at $2.90. And if you reflect back on my original dusk order I had a year ago was trading around the $3.20 levels when I picked it. So we're down, but the price target was 3.82 back then. [00:06:44][111.4]

Felicity: [00:06:45] Interesting. So, I mean, is this a buy more hold sell? What are you thinking? [00:06:50][5.5]

Candice: [00:06:51] This for me is a hold. For now. I want to see the actual, I guess, rest of reporting season play out. And then more recently, you know, I think the market's reacting in the very short term in the next week or so to to the rate rise. So I think we could have potentially prices come off. And then it's a top up for me. [00:07:10][18.6]

Felicity: [00:07:10] And I think it's important to note that dusk does pay a dividend. Right. So you can hold and still get somewhat of a return on your investment. Now, my first order part was actually Nitro. The code is NATO on the ASX. Now this has been I guess in a tricky sector, right? So all of the signing was really accelerated during the COVID lockdowns because it was the easiest way to do business. Now, Nitro have released its first half 22 results. There were few surprises because most of their top line metrics and fy22 guidance had actually been pre-announced. So that's pretty good. I mean, key positives were reiterating the IRR guidance, which highlights trends. Performance has been in line with expectations since the July update. The first half cost was slightly lower than we actually forecasted, and we expect headcount has now largely peaked, which could actually see cost growth reduced in FY 23. So that's positive. Now post the update, we actually have ticked up our fy22 IRR forecast but retain towards the lower end of guidance. Some of the highlights for me is revenue actually grew 32.7 million, so 36% year on year. 22% was that was was actually organic which is really good to see. Now. RR of 51.5 million, which was great 52% year on year. Now operating apeda was -6.3 million, which was actually better than our forecast of -7.3 million. So for Nitro, we're actually maintaining a hold and a price target of $2. Now the reason that it's a hold actually for me, it's probably a top up, right? If your cost base is higher, which it would have been because it's down 66% from when I pitched it. But it's actually trading on an Fy22 EV revenue multiple of only 2.6 times, which is really low compared to US peers such as DocuSign, which is 4.9 times, and Adobe, which is 10.2 times. So our price target implies a multiple of 4.8 times. So for me, top it up if you can. Otherwise just hold on. [00:09:12][121.8]

Candice: [00:09:12] Hold on for the ride. [00:09:13][0.6]

Felicity: [00:09:14] That's it. So Candace next up, you actually pitched our first international stock, which is SEB Financial Group. So what's the latest with the US Bank? [00:09:23][9.6]

Candice: [00:09:23] Right. So being in the I guess the bank heart of the tech and innovation economy, it's really proving to be a double edged sword at the moment, at least in the short term with everything that's going on the markets. So, you know, the pro pandemic growth they experienced was, you know, rapid like a lot of these businesses. So the remainder of the year going forward in terms of their loan growth book is probably getting flagged as a bit more flattish and deposits will shrink. In fact, that's what the company did exactly say. So as a response to this, we've seen analysts who cover this stock reset their full 2020 to got. It's to be lower generally in line with the bank's detailed guidance. So in a nutshell, it yes, it has. This has been another stock that has really fallen quite a lot. It's down 34% since I pitched it last year in the order pad. It has look, I'm still keen on it in terms of the long term growth because it's a bit of a no brainer, in my opinion, that this bank is in a unique position, that it lends to the innovative tech and healthcare sectors, which I just see as not going away. Right? [00:10:28][64.9]

Felicity: [00:10:29] No, exactly. So what is I mean, the consensus 12 month price target now? [00:10:34][4.7]

Candice: [00:10:34] Yep. So we leverage off UBS for this research and their price target is $430 per share. That's down to the downgrade. They previously were 625. Consensus is actually more bullish than UBS at sitting at $514 price target. And just reflecting back, you know, the downgrades, it makes sense because when I was pitching it, it was trading around the 670 levels, but the price target was a lot higher, you know, 700 plus. So similar comments overall to task. The first business is that I really still like the business and I want to hold these to long term. My definition for long term is at least seven years and I'm seeing potentially this fall that we're seeing at the moment. These are top opportunities for me. [00:11:16][41.9]

Felicity: [00:11:17] That's it. Dollar cost average is your best friend in times like this. [00:11:20][3.4]

Candice: [00:11:21] 100%. So you're still liking the business, but in a totally different direction to the financial sector. In the same order pad episode, you added testament to the what have had. So tell us the update there. [00:11:33][11.6]

Felicity: [00:11:33] So tests are an is a technology cybersecurity play. Again, this is down 50% so it does hurt temporarily. The code is TNT on that. [00:11:44][10.6]

Candice: [00:11:44] I have only downs at the moment. [00:11:45][1.1]

Felicity: [00:11:46] But it won't be for long. We've got some good ones coming here. Remember a 2% up overall. So like. [00:11:53][6.5]

Candice: [00:11:53] Guys. [00:11:53][0.0]

Felicity: [00:11:54] Said, TNT released its fourth quarter 22 and now we view this update as very good, right? They've got continued strong organic growth, solid operating cash flows and execution against long flagged earnings seasonality. I just don't think a lot of people have heard about this company or really know what they do. [00:12:14][20.2]

Candice: [00:12:14] All right. Well, let's change that. So run us through a few of your highlights that you've noticed in their recent reports. [00:12:19][5.0]

Felicity: [00:12:20] All right. So the main highlights were Fy22 operating. A bit of 16.3 million actually represents a year on year growth of 115%. Right, which is fantastic. And that was actually in line with our forecast of 16.6. Now the operating cash flow of 14.8 million was ahead of our forecast of 13 million. So that's always a good sign. Like I said, organic growth and margins remain strong. The head count is rising, so the business is actually well-placed for future growth. Again, tick, that's something positive and they're actually clean up the balance sheet. So who doesn't like that? Refinancing a few loans to get a cheaper interest. [00:12:56][35.9]

Candice: [00:12:56] To de-risk in this market. [00:12:57][0.8]

Felicity: [00:12:58] Right. Exactly. So twenties really had a bit of a strategic shift over the last three years and transformed the company. So the financial upside is clearly coming through and it's not really priced into the market at all. Now, management have actually indicated a number of previous acquisitions are performing really well relative to initial expectations. And we actually believe that 20 offers investors exposure to the growing cybersecurity thematic at an attractive price. So again, it's 34, ten 52% discount to its peers right here. Doesn't love a discount. So with this stock, we obviously pitched it at around $0.22. It's around $0.10 at the moment. We maintain our buy rating. Again, this is something that you want to top up if you want exposure to the cybersecurity thematic in a small cap. [00:13:44][46.6]

Candice: [00:13:45] Yes. To still liking the sector, still liking the theme overall for long term. Right? [00:13:48][3.8]

Felicity: [00:13:49] That's it. Now, what about your third pick? [00:13:51][2.3]

Candice: [00:13:51] Okay, now we're in the positive territory. Woohoo! Yay! So next for me, in the episode we dropped in October 2021, I picked BHP on the premise this really of it was it was looking great value at the time. They obviously have exited pretty much out of more quote unquote traditional fossil fuels and looking for more futuristic alternative resource and commodities. So liking that ESG play. And as a reminder, when I did talk about BHP back then, it was trading around the $38 mark and the company hadn't yet announced their plans to demerge the oil asset and sell it to Woodside. So that played out really nicely for both companies. If you look back at the share prices since then. [00:14:32][40.9]

Felicity: [00:14:33] Yeah, it really has. So what else has happened for BHP in the last couple of months since you pitched it? [00:14:38][5.7]

Candice: [00:14:38] So really if you look at the business, it's accelerating quickly out of FY22 into FY 25 to 27. So growth, growth, growth and good positive outlook. I think for for BHP in the near to medium term industry wide, they have, you know, got a few things like low hanging. Term copper issues and iron ore. However, if you kind of look back at the headlines, you know, just the stories of BHP, the Woodside transaction has really opened up a bit of a theme here in my opinion, because more recently in this month of August and reporting season, Oz Minerals received an unsolicited, conditional, non-binding proposal. Long winded answer, BHP saying, Hey guys, I'm really interested in Oz Mineral and we want to buy all of your shares and they put an offer out there on the radar for $25. So the boards are still deliberating at the moment, but we actually had Peter O'Connor nickname Rocky because he covers the resource sector here, foreign partners. He popped on our show a little while back and he still think that there's a lot of, you know, room for BHP to grow in the long term, really likes the business still and he is indicating that he thinks BHP will probably end up buying the shares but maybe for a higher price, you know, but not not a whole lot because there are a few skeletons to oz minerals past. So we shall wait and see. And then just quickly to keep it brief, I guess. Update on valuations. Sean Partners still likes the business price target of $46.43 consensus sitting around 42 last traded price around that. So in summary, we're up about 9%. Not bad. [00:16:18][99.7]

Felicity: [00:16:19] That's pretty good. All right, so we have my third pick, which is also a winner, so I hope everyone bought this one. So my third pick was Xilinx. Now the code is Salix on the ASX. If you don't have it, you should watch it and put it in your watchlist. Now I pitched it at a dollar 39, it's now 3.50, so essentially it is up a whopping 151%, which is fantastic. They actually reported on the 25th of August and it was actually up 11% on this report compared to the ASX 200 that day, which is quite nice to see at the moment having those double digit up days. Now if you don't know what Silex is, essentially they offered investors potential exposure to several different growth markets. So the one that really catches my eye is uranium and nuclear fuel. Obviously, that fuels a carbon free electricity generation for the world's clean energy needs. So that's a tick, right? They've also got the potential production of zero spin silicon, which enables materials for silicon quantum computing. Right now, quantum computing is a strategic technology which may be used in industries like air medicine, cyber security and medical isotopes. Actually, the new medical radioisotope being trialled is being trialled in the treatment of several different cancers. So I think that's also really amazing to hear now. Highlights. On this report. They've shown a clear path to commercialisation, right? It's a producer based model. So they're largely based on revenue. So produce high purity, zero spin silicon at a very low cost, which equals a high margin. I think what's also important to note is the project is funded into 2023, so the funding is about 8 million in total, which is actually supported 3 million by the Federal Government. So that's good. The government. [00:18:08][109.0]

Candice: [00:18:08] Is backing it. [00:18:09][0.7]

Felicity: [00:18:09] Is involved. [00:18:09][0.1]

Candice: [00:18:10] Yeah. [00:18:10][0.0]

Felicity: [00:18:10] Now we've got really high conviction on this stock, but it's actually already exceeded our 12 month price target, which is 3.40. [00:18:17][6.9]

Candice: [00:18:18] So take a profit. Yeah. [00:18:19][1.0]

Felicity: [00:18:20] Yes, we have been taking profits for our clients because they've made over 100% initial capital out. The bullish price target is 4.3. I will take profits around then. [00:18:29][9.7]

Candice: [00:18:30] You're going to hang on until that moment. [00:18:31][1.2]

Felicity: [00:18:32] I'm going to hang on. I'm hanging on for the ride I've been in for a while. My cost base was $0.24. Remember PayPal. [00:18:38][5.6]

Candice: [00:18:39] So, so take a profit when you can, right? [00:18:41][2.0]

Felicity: [00:18:41] I've been in since 2019. Just shows that I'm a long term holder. [00:18:45][3.9]

Candice: [00:18:46] Well, on that high, we're going to take a quick short break to hear from our sponsors. And while we do that, we're just going to quickly hit refresh on our order powered tracking numbers here in case the market's going to be positive to us so we can get some more upside in the short term. [00:18:58][12.5]

Felicity: [00:19:01] And we are back. So Candace. It seems the market hasn't worked in our favour for your next stock just yet. [00:19:07][6.5]

Candice: [00:19:07] No, it hasn't. In that short outbreak, we are still, unfortunately down 66%. In my next company, which I pitched, which is Australian Potash, which is ipca on the Aussie stock market, that's the code. So that's been the worst performing stock that I've added to the iPad, which I pitched to back in November 2021. Little did we know perhaps back then, Felicity, that was perhaps the peak of the market before, you know, inflation concerns really came through in recessionary talks, became the headline in the beginning. [00:19:37][29.4]

Felicity: [00:19:37] Oh, it definitely was. Our portfolios were looking great then. [00:19:40][2.5]

Candice: [00:19:41] So however, though I'm not full negative on this stock, I actually still really like the thematic, the business, the projects have been positive upgrades and announcements which have been really that the brine bore flow modelling in there like wells sulphate project is actually really on track now and looking really impressive in terms of it will be a higher increased brine grade, which is good compared to the last upgrade they gave us, which was model back in April 2021. Secondly, it also implies that they will have a longer life of mine operation, which is great. And if you read through the report and dissect it all, it's going to have lower initial capital costs as well. So longer sustaining capital costs over the long term. If you think about the whole potash thematic, right, the reason why I still really like it is because you've got this main issue at the moment going on, which is potash supply remains a concern for crop producers globally, especially now with what's been going on with the Russia Ukraine war. If you pull back the European crisis, Russia and Belarus normally are responsible for the global potash market of 35 to 40% of the supply. Hence there's a view emerging in the industry which I'm looking at, that in the long run prices will, you know, kind of re rate to be around the US 650 per tonne driven by an increase in the price long term, you know globalisation stuff like that, and increased energy costs which is really topical today with inflation. So while the stocks currently down, I'm still holding on valuations. You know, they've obviously downgraded because of what's been going on last traded price said to say 3.8 cents. [00:21:30][109.5]

Felicity: [00:21:31] Which they recently did the rights issue right at 3.8 cents. So that was a good time to top up yeah. [00:21:37][5.9]

Candice: [00:21:37] Market will right to that valuation right that that's been set by the floor we're still holding on a price target at $0.21 so still really like the business long term. I've got a lot of long term stocksy seven plus years. [00:21:49][11.5]

Felicity: [00:21:49] Well, I mean, that's investing, right? It's long term investing. We're not traded right now. My worst. But this was a bad week for us. So it was Blackstone Minerals, down 66.67%, also fallen off the perch similar to APC. For now. I'm still really liking the story though in the outlook. So Blackstone is a battery metals development company focussed on the Asian market, right. They're proposing a restart of the open pit mine with greater upstream processing and new extensive downstream processing to produce a battery precursor product from hydro power. Now what's really good about Blackstone is they've already got really good relationships with some of the biggest players in the battery metals space. So Vietnam is located close to China, South Korea and Japan. So it's really in the heart of Asia's rapidly expanding lithium ion battery hub. You've got names like Esky Innovation, Eco Pro, Samsung, LG and Panasonic. You know, these are huge, globally relevant cathode and battery manufacturers with their headquarters in this region. A few highlights is that they're really going to be continuing what they're doing, the process that the design pilot of the respective upstream and downstream. In our view this really shows the company's well-placed to reach a final joint venture structure and investment contribution for the projects development by the end of 2022. So we've actually only got a few months left in this update, though we have unfortunately reduced our price target from a dollar 50 to $0.80. This is incorporating the US 400 million of equity raises in C.I. 23 that are more dilution than we previously modelled. Again, this is one that's going to need a little bit of a top up, a bit of dollar cost averaging. But if you like the battery tech lithium space, this is one to hold in the microcap small cap space. [00:23:42][112.7]

Candice: [00:23:43] Exactly right. So, yeah, that's that's the important I guess important to note, Felicity, right. Is small cap, particularly resource companies like Blackstone in APEC that we just pitched in that previous sort of pad. They are very volatile. So you've got to you've got to really know the business, understand the thematic and be comfortable with that level. Low risk volatility for the long term. So, you know, it comes back to your preference right now. Next, we we went global. So we added CrowdStrike, another cybersecurity tech name to the order pad. And also PayPal was one that I was pitching. Now that position's actually down 48%, almost 50%, because management really. Has it been a tough year for large cap tech payment businesses over the last several months? Year to date, PayPal share price has come off nearly 52%. And if you look at the sector more broadly, the payment peer group is down 45% from 2021 highs. But more recently, what we're seeing is that these names are actually kind of slowly recovering from their lows, up 30%. So could be the signal for the turnaround for this sector to come. Reasons why it's you know, the big elephant in the room is obviously interest rate pressures on valuations for this sector is really hurting them and it's going to persist. You know, this is not this is the big question. How long and deep will the recession be? How much will it impact on consumer spending? But overall, if you go through the weeds and this is a really large sector, I'm still really liking PayPal because it's the number one player, in my opinion. And recent reports worth noting since I pitched it was, you know, revenue is strong. Net revenue of 6.8 billion. Yes, billion up 10% in growth even in this market. Active accounts, double digits. That's good. Yeah, active accounts, which is how they live and die of these platforms. That's up also 6%. EBay's growing balance sheet looks good. Operating cash flow growth of 12%. Free cash flow of 1.3 billion. And and and this is what every tech business needs to be saying. The company has been flagging in 2023 that shareholders will be rewarded by 900 million in cost savings that results long term in FY 23 of about 1.3 billion in cost saving, which is going to just basically filter down to the bottom line and help with margins. So hence why I'm saying that as a positive and I want to hold on to this one. In terms of valuations, just very briefly, UBS covers this 136 is their price target previously was 143. So downgrade, that makes sense because of the market conditions consensus sitting around 118 valuation, but the last traded price was $92 US per share. So again, I'm another buyer. [00:26:31][168.7]

Felicity: [00:26:32] Yeah, buy and hold because we are long term investors. Now my final pick for today is actually CrowdStrike. Now this is held up really well. It's only down about 10%. So CrowdStrike is C, R, WTI on the Nasdaq. Now, they're actually going to report tonight, which is Tuesday, the 30th of August. So we can only really go by what we know now. I'll actually be able to update you a little bit better next week. But briefly, CrowdStrike really started the FY 23 with a 5% revenue beat. So a beat is a beat and a 2% increase to its full year revenue guidance as it talked to a record pipeline, durable budgets and growing interest in its ever broadening portfolio. I mean, like its larger cybersecurity peers, CrowdStrike really argues that the industry fundamentals are strong, stronger than they've ever been. In addition, we see a market leading position, a high degree of revenue visibility, strong balance sheet and cash flow generation as attributes that can really help CrowdStrike succeed in the current macro environment. Because cybersecurity is still a growing issue, even with the macro economic fears and everything that's going on. Additionally, they've got 22 modules across various security and I.T. operation domains, and I think CrowdStrike is really uniquely positioned to help customers look to bolstering cyber defences while making do with fewer resources. So I think what's really important to note is that CrowdStrike is actually leveraging this position. Whilst other big tech firms are actually trimming and cutting, they're actually aggressively investing in hiring, which is really, really nice to see. So I think that CrowdStrike is still one of the best, if not the best cybersecurity asset in the current environment. And so UBS has a 12 month price target of 240, which isn't that much upside from where it's trading now. However, consensus price target is about 310. So significant upside there. I am a buy more of this and hold if you want a quality large cap cybersecurity business. [00:28:30][117.9]

Candice: [00:28:31] So that is a wrap guys on the first ten of the full toe in the order pad for our special Happy Birthday one year anniversary or the power we're bringing to you today. Now, overall, I guess big number we want to throw away is 2% overall up. We'll see if that number improves next week when we deliver the second ten of 20. [00:28:51][20.0]

Felicity: [00:28:52] Chuck, the winners in their Xilinx and BHP right in the middle to keep you interested. [00:28:56][4.5]

Candice: [00:28:58] And there are I guess the. Big thing. The big themes that we keep coming back to is, you know, you need to be comfortable with the risk allocation and the businesses that you do pick in your equity portfolio flushing out our long term investors. So, you know, while it hurts being in the red, this is where you come back to the original reasons why you bought this company. So I suggest if this is the first time you're listening to our episode today, maybe go back to any of the companies that you found interesting in that rap we just did to listen to the reasons why we, you know, added them to the order pad a year ago. [00:29:30][32.5]

Felicity: [00:29:31] That's it. I think it's a good thing to note, like I bought Silex in 2019. I've held it for four years already. Now my return is 1300 percent, which is fantastic. But you only get these great returns when you buy and hold long term in the right businesses. [00:29:47][16.3]

Candice: [00:29:48] Now, before we sign off, please remember, although for less in our financial advisors at Shriram Partners, obviously today we've spoken a lot about the companies and gave you updates, but do not consider this as personal financial advice. Nor is our show considered a financial product. As always, if you want to make any of your own investment decisions, go out and seek professional advice before you do so. We have created these order pad episodes for a bit of fun and hopefully give you some learnings and education on the markets and stocks along the way. [00:30:17][28.7]

Felicity: [00:30:18] That's it. Always do your own research, but feel free to reach out to us on our social media channels or send us an email which is Tim. Tim at Equity Mates dot com. And again, make sure you follow us on at Talk Money to Me podcast for daily market updates. Hirsch is back, so this will be back on Until Next Time. 

Candice: [00:30:35] So you then.